Navratna PSU Stock in focus: Interim div of Rs 1.15/share, signs PPA of 70 MW wind energy project

Shares of Navratna PSU Stock, SJVN Ltd, will gain focus as the company has been undertaking several agreements. The hydropower state-run firm has signed a power purchase agreement with Datta Power Infra to develop a 70 MW wind energy project as part of its WIND-1 initiative.

The project intends to build 600 MW of wind power plants connected to India's ISTS (Inter-State Transmission System). SJVN emphasized in a statement its dedication to increasing the nation's potential for renewable energy.

The partnership with Datta Power Infra is a significant step toward improving grid integration for wind power and speeding up the implementation of clean energy.

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In addition, the company has signed a Memorandum of Understanding (MoU) with the Chhattisgarh government and Chhattisgarh State Power Generation Company Ltd for a 1800 MW pumped storage project.

The pumped storage unit is projected to generate 3,967 million units (MU) of electricity. The proposed project will be based in Kotpali, Balrampur district, and is estimated to attract Rs 9,500 crore.

Dividend History:

The company has announced an interim dividend of Rs 1.15 per equity share for the third quarter of the fiscal year 2025. The board has set February 21, 2025, as the record date for the dividend payment, which will be processed starting March 6, 2025. In comparison, the company issued a dividend of Re 0.65 per share following its annual general meeting in September 2024.

Financial Performance:

The hydroelectric power company reported a profit of Rs 149.03 crore for the quarter ending December 31, 2024. Additionally, revenue increased by 23.5% to Rs 670.99 crore, up from Rs 543.31 crore in the same quarter of the previous fiscal year.

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On the National Stock Exchange, SJVN shares decrease by 1.18% at Rs 85.32. It closed 3.34% higher at Rs 93.20 per share, compared to a 0.27% advance in the benchmark Nifty. The share price has fallen 14.41% on a 12-month basis.

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